Stock Market Today, Dec. 26: S&P Notches New High As Investors Digest Nvidia-Groq Deal

The S&P 500 (SNPINDEX:^GSPC) slipped 0.03% to 6,929.94, the Nasdaq Composite (NASDAQINDEX:^IXIC) eased 0.09% to 23,593.10, and the Dow Jones Industrial Average (DJINDEX: ^DJI) edged down 0.04% to 48,710.96, all cooling slightly after recent highs in thin post‑Christmas trade.

Market movers

Nvidia (NASDAQ:NVDA) ticked higher as investors reacted to its Christmas Eve deal to buy about $20 billion in assets from AI startup Groq. Gains in materials names such as Freeport‑McMoRan (NYSE:FCX)and Southern Copper (NYSE:SCCO)versus an almost 6% loss from Standard Lithium (NYSEMKT:SLI) reflected sharp divergences tied to the powerful precious‑metals rally.

What this means for investors

While today's final performance was muted, the S&P 500 set a new record in intraday trading as investors returned from the Christmas break. The index is up 2.3% for the week, and there's debate about whether we're about to see a final end-of-year rally or the start of a consolidation phase.

Nvidia continued to dominate the news today with more AI-driven gains. 2026 is already being framed as the year of AI, even as commentators warn that it will only take a small negative shock to disrupt momentum.

Gold and silver prices set new highs with spot gold nearing $4,550 an ounce and spot silver passing $77 an ounce. Ongoing geopolitical tensions have sparked investor interest in these store-of-value assets. The only question is how long both safe havens and equities will continue to rally.

Emma Newbery has positions in Nvidia. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy.